Fixed price
£150,000
(£178.57/sq. ft)
Block of flats for saleCornmarket, Penrith CA11
840 sq. ft
About this property
Investment Consideration:
Rental Income: £5,400 p.a.
Asset management opportunity, flat is under rented. Erv: £8,400 p.a.
VAT is not applicable to this property
Comprises 3-bedroom flat at first and second floor and a retail shop at ground floor (sold-off)
Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.
Property Description:
Comprises 3-bedroom flat arranged at first and second floor and a ground floor shop which has been sold-off on long leasehold, providing the following accommodation and dimensions:
Ground Floor Shop: Sold-off
First/Second Floor Flat: 78 sq m (840 sq ft)
3 bedrooms, kitchen/living room, bathroom
Tenancy:
The flat is at present let on AST to an Individual for a term of 6 Months from 3rd July 2020 (holding over) at a current rent of £5,400 p.a. Deposit held of £450.
The ground floor shop has been sold-off on long leasehold for a term of 999 Years from November 2024 at a ground rent of peppercorn.
Location:
Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.
Rental Income: £5,400 p.a.
Asset management opportunity, flat is under rented. Erv: £8,400 p.a.
VAT is not applicable to this property
Comprises 3-bedroom flat at first and second floor and a retail shop at ground floor (sold-off)
Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.
Property Description:
Comprises 3-bedroom flat arranged at first and second floor and a ground floor shop which has been sold-off on long leasehold, providing the following accommodation and dimensions:
Ground Floor Shop: Sold-off
First/Second Floor Flat: 78 sq m (840 sq ft)
3 bedrooms, kitchen/living room, bathroom
Tenancy:
The flat is at present let on AST to an Individual for a term of 6 Months from 3rd July 2020 (holding over) at a current rent of £5,400 p.a. Deposit held of £450.
The ground floor shop has been sold-off on long leasehold for a term of 999 Years from November 2024 at a ground rent of peppercorn.
Location:
Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.
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Monthly repayment
£750 per month
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